CRISIL chartbook: Riders to the ride

As India joins the global growth party in 2018, it faces a troika of risks

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Can we take advantage of the global upturn?

What should we fear as global central banks diverge?

Will our macros simmer with oil in 2018?

The global economy accelerated in 2017, but India couldn’t join the bandwagon tripped as it was by demonetisation and hiccups during the implementation of the Goods and Services Tax (GST) regime.

But those headwinds are now past, and in fiscal 2019, the weak-base effect of this fiscal and speedier global growth should lift India’s boat, too. However, three risks – lingering impact of domestic disruptions, asymmetry in monetary policies of advanced economies, and spike in crude prices – loom.

The big question, therefore, is, can India join the global ride this time around?